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I have had non-interrupted short-term insurance cover for 12 years and I’ve not missed a single monthly premium in that period. I was 24 years old when I bought my Golf GTi and I remember my first insurance quote was almost equal to the monthly instalment for the vehicle finance –I was perceived to be high-risk because of the combination of my age and driving a high-performance vehicle. I’m still driving my Golf GTi and over the years I have expanded my insurance portfolio to include a house, contents, electronic devices and bicycles. Spoiler alert! - I have not had a single insurance claim in 12 years. Had I saved up my insurance premiums in an interest-bearing account, where would I be right now?

At an average premium of R2,500 over the 12 years, and assuming a modest money market return of 6.5% per annum, I could have saved up R1.2m. I would afford today to self-insure everything except my house.

For many consumers, insurance remains one of the top grudge purchases because of the perceived lack of value for money. Having performed pricing and analytics roles in actuarial departments of reputable insurance companies, I have observed that up to 90% of consumers will pay more in premiums than they will ever claim in their lifetime. Hence the perceived lack of value for money is not entirely misplaced


In a tough economic environment, every cent spent counts, consumers spend their hard-earned cash on insurance premiums, hence insurance premiums should be viewed as an investment. In an effort to reduce grudge purchases and create of value for money, insurers are continuously attempting to make costumers feel less grudgy through no-claim discounts, no claim cash-backs and to offering “cheap” insurance. But what would it take for consumers to feel that insurers have their interest at heart? The real value of any investment is measured by the return on investment.


Life Insurance offers a form of return on investment through with-profit and investment solutions, Medical Aids offer medical savings accounts which can be used for day-to-day medical expenses. But what about Short-Term insurance? Dololo (colloquial for “nothing”). This is despite the fact that like life and health insurance companies, short-term insurers invest premiums received from clients and earn interest on these premiums. Why then do consumers not benefit from the interest earned by short-term insurers? Wouldn’t it be nice if your insurer could let you in on some of the interest that they earn on the premiums you pay over to them?


Ahem! Solvency (Solve-and-see-why) is a solution designed to address the absence of return on investment in short-term insurance. Solvency lets you fund your savings from your premiums. You choose the portion of your premiums that you want allocated to your insurance savings account and you earn interest on your savings. You can use your savings to fund your excess if you claim, or withdraw up to 50% your savings every 12 months or leave your savings to continue to grow and earn interest. Now that’s insurance that literally has your best interest at heart.


Visit the Solvency website www.solvency.co.za to use the online calculator to check how much you could have saved up through an insurance model that lets you fund your savings from your premiums.


WHAT WE DO

We offer digital self-service, flexibility to switch cover on and off and the transparency to track your insurance savings account “ISA”. Getting insured with Solvency is simple! There is no paperwork. Everything can be done from your phone or computer.

I have had non-interrupted short-term insurance cover for 12 years and I’ve not missed a single monthly premium in that period. I was 24 years old when I bought my Golf GTi and I remember my first insurance quote was almost equal to the monthly instalment for the vehicle finance –I was perceived to be high-risk because of the combination of my age and driving a high-performance vehicle. I’m still driving my Golf GTi and over the years I have expanded my insurance portfolio to include a house, contents, electronic devices and bicycles. Spoiler alert! - I have not had a single insurance claim in 12 years. Had I saved up my insurance premiums in an interest-bearing account, where would I be right now?

At an average premium of R2,500 over the 12 years, and assuming a modest money market return of 6.5% per annum, I could have saved up R1.2m. I would afford today to self-insure everything except my house.

For many consumers, insurance remains one of the top grudge purchases because of the perceived lack of value for money. Having performed pricing and analytics roles in actuarial departments of reputable insurance companies, I have observed that up to 90% of consumers will pay more in premiums than they will ever claim in their lifetime. Hence the perceived lack of value for money is not entirely misplaced


In a tough economic environment, every cent spent counts, consumers spend their hard-earned cash on insurance premiums, hence insurance premiums should be viewed as an investment. In an effort to reduce grudge purchases and create of value for money, insurers are continuously attempting to make costumers feel less grudgy through no-claim discounts, no claim cash-backs and to offering “cheap” insurance. But what would it take for consumers to feel that insurers have their interest at heart? The real value of any investment is measured by the return on investment.


Life Insurance offers a form of return on investment through with-profit and investment solutions, Medical Aids offer medical savings accounts which can be used for day-to-day medical expenses. But what about Short-Term insurance? Dololo (colloquial for “nothing”). This is despite the fact that like life and health insurance companies, short-term insurers invest premiums received from clients and earn interest on these premiums. Why then do consumers not benefit from the interest earned by short-term insurers? Wouldn’t it be nice if your insurer could let you in on some of the interest that they earn on the premiums you pay over to them?


Ahem! Solvency (Solve-and-see-why) is a solution designed to address the absence of return on investment in short-term insurance. Solvency lets you fund your savings from your premiums. You choose the portion of your premiums that you want allocated to your insurance savings account and you earn interest on your savings. You can use your savings to fund your excess if you claim, or withdraw up to 50% your savings every 12 months or leave your savings to continue to grow and earn interest. Now that’s insurance that literally has your best interest at heart.


Visit the Solvency website www.solvency.co.za to use the online calculator to check how much you could have saved up through an insurance model that lets you fund your savings from your premiums.




WHAT WE DO

We offer digital self-service, flexibility to switch cover on and off and the transparency to track your insurance savings account “ISA”. Getting insured with Solvency is simple! There is no paperwork. Everything can be done from your phone or computer.

I have had non-interrupted short-term insurance cover for 12 years and I’ve not missed a single monthly premium in that period. I was 24 years old when I bought my Golf GTi and I remember my first insurance quote was almost equal to the monthly instalment for the vehicle finance –I was perceived to be high-risk because of the combination of my age and driving a high-performance vehicle. I’m still driving my Golf GTi and over the years I have expanded my insurance portfolio to include a house, contents, electronic devices and bicycles. Spoiler alert! - I have not had a single insurance claim in 12 years. Had I saved up my insurance premiums in an interest-bearing account, where would I be right now?

At an average premium of R2,500 over the 12 years, and assuming a modest money market return of 6.5% per annum, I could have saved up R1.2m. I would afford today to self-insure everything except my house.

For many consumers, insurance remains one of the top grudge purchases because of the perceived lack of value for money. Having performed pricing and analytics roles in actuarial departments of reputable insurance companies, I have observed that up to 90% of consumers will pay more in premiums than they will ever claim in their lifetime. Hence the perceived lack of value for money is not entirely misplaced


In a tough economic environment, every cent spent counts, consumers spend their hard-earned cash on insurance premiums, hence insurance premiums should be viewed as an investment. In an effort to reduce grudge purchases and create of value for money, insurers are continuously attempting to make costumers feel less grudgy through no-claim discounts, no claim cash-backs and to offering “cheap” insurance. But what would it take for consumers to feel that insurers have their interest at heart? The real value of any investment is measured by the return on investment.


Life Insurance offers a form of return on investment through with-profit and investment solutions, Medical Aids offer medical savings accounts which can be used for day-to-day medical expenses. But what about Short-Term insurance? Dololo (colloquial for “nothing”). This is despite the fact that like life and health insurance companies, short-term insurers invest premiums received from clients and earn interest on these premiums. Why then do consumers not benefit from the interest earned by short-term insurers? Wouldn’t it be nice if your insurer could let you in on some of the interest that they earn on the premiums you pay over to them?


Ahem! Solvency (Solve-and-see-why) is a solution designed to address the absence of return on investment in short-term insurance. Solvency lets you fund your savings from your premiums. You choose the portion of your premiums that you want allocated to your insurance savings account and you earn interest on your savings. You can use your savings to fund your excess if you claim, or withdraw up to 50% your savings every 12 months or leave your savings to continue to grow and earn interest. Now that’s insurance that literally has your best interest at heart.


Visit the Solvency website www.solvency.co.za to use the online calculator to check how much you could have saved up through an insurance model that lets you fund your savings from your premiums.


WHAT WE DO

We offer digital self-service, flexibility to switch cover on and off and the transparency to track your insurance savings account “ISA”. Getting insured with Solvency is simple! There is no paperwork. Everything can be done from your phone or computer.